Healthcare Automation Market Top Participant To Focus On Regional Expansion | Aetna, Inc., Allscripts Healthcare Solutions, Cerner, Cigna Corporation.

The healthcare industry is rapidly adopting advanced technologies such as artificial intelligence (AI), robots, and medical imaging analytics to boost operational efficiency, reduce costs, and enhance service quality. Healthcare professionals and hospital administrators are using healthcare automation software to perform routine tasks more efficiently and improve patient care and management. For instance, the use of AI by clinicians to make treatment decisions has led to a 50% improvement in patient outcomes and a 50% reduction in healthcare expenses, according to a 2014 report from Indiana University.

Advanced scheduling software is now available for nurse appointments, which considers patient location and matches their needs with the appropriate medical specialist. The software then assigns the most suitable nurse to visit the patient at home. With automation, nurses have access to real-time patient information through a single interface, enabling them to provide the best possible treatment. The ultimate goal is to improve patient care by using technology to streamline processes and enhance care quality.

Automated systems for patient reporting, invoicing, and prescriptions provide hospital staff with rapid access to necessary data for treating patients during all stages of their care. This results in shorter wait times for patients, improved facilities for their proper care, and streamlined information gathering and retention processes. The integration of information technology in treatment and diagnostic procedures is expected to accelerate the development of clinical, hospital, and healthcare processes, ultimately improving patient outcomes.

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Healthcare Automation Market Dynamics

The healthcare industry is expected to increasingly adopt automation due to advancements in healthcare information technology, a growing elderly population, and a rise in both chronic and acute diseases. According to a 2013 study by the World Health Organization (WHO), the prevalence of age-related diseases such as dementia and Parkinson’s disease is increasing globally alongside the aging population. This has resulted in a greater demand for medical and healthcare services, as well as an increased dependence on family members and caregivers. Therefore, the implementation of automation in healthcare services can help alleviate some of these challenges and improve overall patient care.

The integration of automation technologies in healthcare institutions has the potential to optimize staffing and reduce expenses. According to the WHO’s research, there was a worldwide shortage of 7.2 million healthcare professionals in 2013, and this figure is projected to increase to 12.9 million by 2035. As such, the implementation of automation technology can benefit both healthcare institutions and current staff members.

The prompt and accurate detection of rare and difficult-to-identify illnesses significantly impacts the effectiveness of treatment. Medical personnel can only examine a limited number of samples and photos, and their diagnoses are prone to human error. Artificial intelligence, on the other hand, can analyze millions of samples with greater reliability and consistency in a shorter period of time. For instance, the under-development AI platform, Morpheo, uses sleep patterns to investigate sleep disorders, and this could potentially lead to the development of new medications and simplified patient treatment for doctors.

The use of machine learning and AI has the potential to significantly impact the cost and duration of drug discovery, which currently averages around US$2.5 billion and takes 10-15 years. Due to the extensive time and resources required, researchers must limit the number of testing options. However, machine learning algorithms are not subject to such constraints and can prioritize testing while making predictions based on previously analyzed data, thus saving time and money throughout the drug discovery process.

Yet, the systems may be exposed to a range of dangers, including malware, vulnerabilities, and breaches. The application of new technology might also be constrained by a dearth of highly qualified employees. Strong access control rules may aid in reducing data theft by restricting access to Personally Identifiable Information (PII) and Personal Health Information (PHI) data to a specific group of individuals depending on their needs.

Healthcare Automation Market Regional Insights

Coherent Market Insights has divided the healthcare automation market into regional segments for North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Due to improvements in healthcare and Technology infrastructure, North America and Europe are anticipated to represent a significant portion of the healthcare automation market. Moreover, it is anticipated that increasing R&D expenditure and automation in the healthcare industry would boost regional market share. For instance, healthfinch, a healthcare IT business located in Madison, Wisconsin, raised US$ 17 million in 2018 to maintain and expand their Charlie Practice Automation Platform.

Additionally, due to the rapidly expanding healthcare infrastructure and growing patient awareness as the prevalence of cardiovascular illnesses, diabetes, and cancer rises, emerging economies are anticipated to enhance the use of automated systems in the healthcare sector in the near future. By 2030, it is predicted that China and India would have more than 500 million diabetics between them, according to the Asian Diabetes Prevention Initiative.

Healthcare Automation Market Competitive Landscape

Aetna, Inc., Allscripts Healthcare Solutions, Cerner, Cigna Corporation, OptumHealth, Oracle, IBM Corp, Verisk Analytics, MedeAnalytics, McKesson, Truven Health Analytics, and UnitedHealth Group, Inc. are important competitors in the healthcare automation industry. Industry participants are always seeking to provide innovative solutions that will lower healthcare expenses and fully automate the procedure. Healthcare payers may automate unstructured data, for instance, by using ibml intelligent capture solutions. This lowers administrative costs, improves customer service, speeds up cycle times, expedites audits with better reporting, and strengthens internal controls and regulatory compliance.

Healthcare Automation Market Taxonomy

The worldwide market for healthcare automation is divided into the following categories based on application:

• Diagnostic and monitoring
• Therapeutic
• Laboratory and pharmacy
• Medical logistics

On the basis of end users, the global healthcare automation market is segmented into:

• Hospitals and Diagnostic Centers
• Pharmacies
• Home Care
• Research Laboratories

On the basis of region, the global healthcare automation market is segmented into:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

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Report Attribute	Details
The market size value in 2023	USD 37.9 Bn
The revenue forecast in 2030	USD 91.8 Bn
Growth Rate	CAGR of 10.50%
The base year for estimation	2022
Historical data	2017 – 2021
Forecast period	2023 – 2030

Table of Contents with Major Points:

Executive Summary

• Introduction
• Key Findings
• Recommendations
• Definitions and Assumptions

Executive Summary

Market Overview

• Definition of Healthcare Automation Market
• Market Dynamics
• Drivers
• Restraints
• Opportunities
• Trends and Developments

Key Insights

• Key Emerging Trends
• Key Developments Mergers and Acquisition
• New Product Launches and Collaboration
• Partnership and Joint Venture
• Latest Technological Advancements
• Insights on Regulatory Scenario
• Porters Five Forces Analysis

Qualitative Insights Impact of COVID-19 on Global Healthcare Automation Market

• Supply Chain Challenges
• Steps taken by Government/Companies to overcome this impact
• Potential opportunities due to COVID-19 outbreak

Conclusion 

Appendix

• Data Sources
• Abbreviations
• Disclaimer

TOC Continued…!

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